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tv   Making Money With Charles Payne  FOX Business  January 3, 2018 6:00pm-7:00pm EST

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so much for having us in your homes, thank you for watching, john layfield is here now with making money. take it away john. >> thank you e-mac still filling in for charles payne keeping the chair warm for you you're watching making money. a second straight day of record wall street trading on wall street with all of the major market averages posting record closes following positive economic outlook from the federal reserve minutes. we'll dive into what those numbers mean later in the show but first, a war of words is heating up between president trump and his former chief strategist steve bannon. the president slamming bannon earlier today after bannon criticized the president's son donald trump jr. and accused him of all but committing treason. for meeting with the russian lawyer in trump tower during the 2016 presidential election. adam shapiro joins us from the white house with the latest on this battle. adam? adam: good evening it was the meeting between donald jr. , jared kushner, that lawyer tied to the russian government, that really is in focus here, because steve bannon in his discussions
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for the man by the name of michael wolf who is author of a book coming out next week about the trump presidency that book called fire and fury bannon is quoted as saying here is the quote that has everyone talking. "even if you thought that this was not treason or unpatriotic or bad four letter word starts with an s, and i happen to think it's all of that, you should have called the fbi immediately which of course the people at that meeting did not." so the president responded by issuing a statement which he said when he was fired, referring to steve bannon, he not only lost his job, he lost his mind. steve doesn't represent my base, he's only in it for himself. so, there are several people who have been quoted an excerpt of the book has been published in different news magazines and in it there are attacks on the trump presidency and president trump but people who are attributed to the quotes attacking the administration are walking back saying they never said these things.
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sarah sarah huckabee sanders was asked about that and here is what she said. >> i don't think it does anything to the president, the base and the people that supported this president supported the president and supported his agenda, those things haven't changed, the president still is exactly who he was yesterday as he was two years ago when he started out on the campaign trail. his agenda hasn't changed and he's continuing to fight for and push for that agenda. adam: so we talk about these people who are saying they didn't say the things that are attributed to them in the book which comes out next week. foxconn firmed through steve bannon's office that bannon did indeed say these thins and stick s by the quotes that are now in the public discussion and of course this is not quite the end of it. the book comes out it's already for sale on amazon and it's number one in pre sales back to you. >> adam shapiro thank you. now let bring in my panel, fox news contributor, ashley pratt, u.s. news and world report contributor and gina loudon member of the donald j. trump
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president advisory board. gina after the bears won the super bowl in 86 people thought this could have been the greatest team of all-time. what could possibly go wrong? then mike ditkaxe and buddy ryan start fighting. the republicans won everything they won both sides of congress, won the white house as well, and it seems like the civil war is nothing but sabotage for this political party do you agree with that? >> that's an interesting analogy no i don't think this is very big news for most of us who are focused on things like what's happening with iran, what's happening with north korea and the best first year of a presidency in history, so i think most of us who worked hard to elect this president are still focused on those things and we'll continue to be focused on facts and not feelings and on what we know to be true which is that this presidency is off to a fantastic start and we plan to keep it right there. >> well they certainly got off to a great start at the end of this past year with the tax reform package being passed which they did promise it july 4
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they promised by the august recess and finally got it done within the first year but when you talk about turnover, ashley, ronald reagan had the most turnover of any president 17% until president trump in the first year whose doubled that at 34%. is that a sign of a commander feeling his way in washington and draining the swamp or a sign of disarray? >> yeah i think it's a sign of disarray here and typically republicans like to use the term democrats and disarray but this is very fitting for this administration. i think they are not able to really get their footing and as you mentioned, you know toward the end of the year they were able to get on track with messaging when tax reform was passed, but other than that you really saw them scrambling around trying to get things done there were no legislative accomplishments, there was in- fighting within the party the party is more fractured than it ever has been so that's something they've accomplished but the most interesting part of all of this is the fact that it is now what, january 3rd and we're already at the point of
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complete dysfunction again? we turned over a new page you'd think within the new year but the president is acting still in the same way, just looking at his tweets yesterday. gina mentioned north korea and iran but north korea i mean he is using hashtag diplomacy in a very dangerous way to try to threaten north korea and i think that this point we need to really look at what's going on here and he was propping up bannon before and now saying he lost his mind in some ways the president lost his own mind. >> jessica i think hashtag diplomacy shows we're in a social media world. >> we definitely are you have to say that all the time. >> the disarray, however you want to characterize this, is this going to derail some things like the infrastructure, a lot of the leaders of the infrastructure council are members of blue states, are they democrats they want to put this forward this is really not a republican traditional measure. do you think this infrastructure bill goes through? >> i really hope that it does. i'm cautious to say that i think it will because i think that democrats have shown a capacity
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or an interest in digging their heels in and resisting at every turn but i think it would be a really big solid win for both sides here. there are a lot of republicans who are opposed to it in terms of how much it's going to cost so they have to agree on how you'll be funding this in the end but as you'll say it's not traditional republican this is very trump the opportunity to build the entire country up. nothing would appeal to him more as a real estate person but i think democrats are feeling pretty good right now about their chances in 2018 and a lot of districts not the ones you're mentioning where we have blue senators in red states but the rest of the country, there are people telling them resist resist resist and it will be interesting to see if they can get it together to save people like joe and heidi heitkamp and the closest race of anyone in 2018. >> four congressional leaders meet on capitol hill to avoid a government shutdown and gina when you're talking about the fact that they after that meeting they came out with good news they weren't going to
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shutdown. can you imagine a store owner and a person running the store when you call to ask them how are things going and the only answer he has is we'll keep the doors open tomorrow, that exceptionally low bar by this congress and i think it's why they have the poll of 13% approval rating which is just below the 14% of americans who leave in big foot so there is within that factor can this president actually work with this congress when their bar now is just to keep the doors open. >> they better work with this president because this president has shown now has demonstrated now what he can do to an economy he's totally revitalized the economy and we all know the numbers they are tip top and every democrat and every republican should be thrilled with the decrease in regulation with the tax bill that this president got through, with the stock market, with the unemployment, the consumer confidence the list goes on and on so in any way try to diminish
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that, it's naive at best and dishonest at worst. every incentive for this congress to continue. the biggest strategic mistake of this entire year was the democrat congress or the democrats voting exclusively against the tax package. that was the biggest strategic mistake it will cost them in the midterms mark my words. >> the government shutdown if it does what happens there's been seven since 1976 and the budget appropriations act ashley its never been a case of one party that owns both sides of congress and the white house, so if they do it seems like this will be political suicide for the republicans at lost only history will tell how that plays out but are the republicans in trouble? you're losing someone like orrin hatch whose and you might have mitt romney coming in who is an adversary and against a lot of what president trump has to offer. >> well i think the republicans are setup to lose huge in 2018
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because of the president and i think their alignment with him as we saw in alabama, now again, we're seeing some different patterns here we saw virginia, we saw alabama and all of this can be seen as a rebuke of the trump presidency and myself as a moderate republican sees problems here because of the fact that the trump agenda goes too far for some people and then his behavior which tends to be erratic and he's showing no signs of changing in the new year can be a problem for lawmakers who might be looking to work with him and to jessica 's point earlier it would be great for democrats if the infrastructure bill got passed do they want to hand a legislative win probably not because at the same time when they see how his behavior is affecting people, they're not willing to work with somebody like that. so because he needs to act as though he's president of the united states and he has yet to be able to do that and it's fine he passed tax reform. the american people will benefit from it but the problem is he doesn't stick to messaging and he doesn't act presidential so
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unless he starts doing that i don't think he's going to see many more legislative wins especially in an election year. >> one thing we've seen a lot of certainly are investigations and jessica, when you talk about investigations paul manafort is now suing robert mueller and the justice department claiming the doj violate its authority by hiring mueller for the russian probe. basically he's saying he committed a crime because it was out of mueller's jurisdiction he shouldn't but prosecuted for it . this sounds insane to me. >> it sounds like paul manafort which is a little insane and donald trump and his whole team could have known that before they hired him because he's been doing this for decades he's very well known in campaign circles who paul manafort is and what he was doing in russia and what kind of fellow he is overall. the doj will dismiss this as a frivolous suit. i think it's what it is. i'm not a lawyer but i can read really well and it's just more indications of how hard everyone in the trump orbit is sweating the mueller probe and i think that has a lot to do also with donald trump's fire towards
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steve bannon for the comments about don jr. and jared kushner and paul manafort taking that meeting at trump tower saying it's treason to have done that in the first place and you call the fbi when someone contacts with you with that kind information so paul manafort is doing his thing and he wants to the hamptons every fourth weekend but i don't think it's largely making a difference in what happens with the probe. >> i don't think the hamptons right now are the place to be. >> it's a little cold. it's a little colder than usual too. >> i'm not even sure. >> i don't know what it is but i'm very afraid. >> conflicts are igniting around the world thanks all to you ladies for joining the show. conflicts are igniting around the world from north korea to iran and pakistan. we'll discuss the biggest national security challenges facing the trump administration, next. stay with us. ooooooh snap!! every truck guy has their own way of conveying powerful. yeeaaahhh boy. kind of looks like a monster coming to eat ya.
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>> conflicts with massive implications are sparking across the globe from the deadly iranian protest to north korea's growing nuclear capabilities. where is greatest threat and what's the best defense? let's ask ceo and former white house national security official i want to get to your book in just a minton warnings one of the i couldn't put it down this past weekend i thought it was fantastic talking about cassandra which is a mythology term about people who can predict the future but first i want to ask you about iran. a lot of people are comparing this to perhaps what in your book robert ford talked about the former u.n. ambassador talked about in syria there's a void there of people that are going to face asad in iran. do you see something similar there or is it more similar to the arab spring? >> it's actually very similar to the arab spring john that's a
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great question. what we have going on is a group of people who found a leaked budget with how iran is spending money and what they discovered with the iranian revolution after it guard a lot of the hard liners were taking a huge amount of money themselves, and the folks kind of woke up and said this is ridiculous so when we think of iran we think of a they autocratic country but it's not citizens in fact the people are no more religious than americans and they also have a blue and red divide like we do so the red state folks that are more religious are more interest in the social services from the government and when they realize the the government was spending a ton of money on the wealthy and elite, they got very upset so it's a lot like the arab spring and like the election we just had here a group of folks inside the country that felt like the system is rigged against them and they're protesting them. >> the people chanting were chanting no more syria deal with us first and you had this leaked budget that went out that actually showed how much money
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they were spending in syria and hezbollah which they helped form several years ago and also the proxy war in yemen which upset these people. did the leader of iran was he the one that leaked this? >> i think he was the funny thing is this set of protests isn't working within the system so there is a thing called the green revolution in iran in 2009 where the folks were coming out protesting for the more liberal parties in this instance they're protesting the entire system in fact the liberal parties come against the protesters so that actually doesn't bode very well for the protestersers i think they're in for a rough couple weeks. >> there's a lot of questions i want to get to as far as north korea and pakistan but north korea especially. the missile launch that was failed, just a few months ago, was that part of usa hacking? >> i don't know for sure but i would imagine it was. i think we probably had a very effective intelligence in hacking program against the missile program but understand what's also happened on north korean missile program. they've had really extra ordinary number of successes
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really fast so they had a number of months about 14 where their missile program kept blowing up things on the tarmac and they've now had a number of very successful launches so its been they've had real success in their ability to throw largely. >> moving to pakistan i hate to jump around so quick but i've got you here and i'm excited about it. the network that talked about specifically the group of the afghan taliban the military arm that goes across-the-boarder and hides intact us pan talking about withdrawing $225 million in aid the same thing general mattis did last summer with $50 million in aid, is the biggest threat going forward to your book, you showed haikais and ares are not paid attention to winston churchill, the co- author of your book richard clark who predicted 9/11 and osama bin laden, one you talk about in that is the india pakistan potential nuclear war.
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is that the biggest thing on your radar screen? >> i think that actually the biggest thing on myriad after screen is a war with north korea as we discussed earlier and a real issue we have to be aware of and it could happen by mistake and we have a president who probably isn't making things better, i don't think it's a good idea but pakistan is a massive issue and what we talked about in the book is if pakistan india have a nuclear exchange it could lead to a global nuclear winner which could affect the entire world and reduce global crop yield 20-30% and that would cause two to 3 billion deaths. and you went to that data by super volcanos exploded same type of thing. >> this is all data driven, alan robuck, the person who used america's greatest super computers to do modeling this isn't hypothetical interestingly enough he's working on a grant looking at north korean crisis, which would probably be 30 weapons large at least that would also cause a global nuclear winner. this is a very very big deal so not only would a nuclear change
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in north korea be a massive crisis for south korea, japan, united states and north korea and china, it could cause a global nuclear winner and people with not talking about this look up the work of dr. alan robuck. he's a genius, data driven scientists. >> the book is with richard clark but one final question with two parts so we only have a couple seconds . the percentage that something crazy is going to happen in north korea i want to ask you that and also since you play football at brown where a science major the most important question of the world who wins the alabama and georgia? >> well they say in the intelligence business nobody likes to make predictions especially about the future so i can't tell you the number but it's over 10% and under 50% but i really believe nothing will happen before the olympics. this could be an interesting investment opportunity right? this market is so strong, the whole world looks very strong one of the things to derail it would be a north korean conflict i don't think that will happen until the olympics and i'm going to have to go with alabama,
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they're just fast and it's very different the football i played a lot more like what you played. >> they don't have jennings but it's a safe bet, thank you very much. >> thanks very much. >> two men embark on a cross country road trip in the newly- released tesla model 3 and set a new time record one of those drivers joins me next exclusively. we'll be right back.
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>> tesla shares down after-hours after the company announced fourth quarter deliveries, of its new model 3 electric cars missed wall street expectations. this as it tries to overcome reports of production issues that have clouded public opinion of the company's newest sedan. but two men may have a different take. after driving a tesla model 3 across the country from los angeles to new york city in just over 50 hours, setting a new electric vehicle canon ball run record, one of those drivers is with me now alex the editor at large of the drive, thank you for joining us.
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why? >> well you know, a hundred years ago, in rib canon ball baker began driving across country to show internal combustion cars were reliable. >> in the 1930s right? >> earlier 1915. >> first canon ball run. . that's right so now we have electric cars and these are the future and so someone's got to go out and show these thins can actually get get across country in a real decent speed. >> i want to ask you about the tesla because i think you'll have a good take on that but you also set the gas record at 31 hours, and it's 2789 miles i looked it up on google means you went at average speed of 90.1 miles per hour. >> that's correct. my co-driver dave and i took turns and that was a tough drive that was a real tough drive. >> how did you do that? you said you had a little help with the police from some interviews that i saw but you're driving 90 miles an hour for 31 hours straight. a little against the law. >> your driving more like 120-
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140 miles an hour and then when you account stopping frigates 35 minutes it averages out to 9 oh, so we had a spotter plane flying overhead looking for night vision, binoculars scanner, it's like a military operation. i read they had smoke grenades with you. we never used them it was just for fun. >> but you had them. >> it was a different drive. a lot of mystery around this best kept a mystery. >> 27 minutes around manhattan? >> that, something else i generally try not to talk about but yes, i did at one-time hold a lap record around manhattan island. >> you got arrested impersonating a german police officer? >> that arrest there's no law against impersonating a foreign police officer and law enforcement and i experienced actually pretty cool if you're cool to them. >> one of the things was your blog on this trip with the tesla car. you talked about keeping it at the heater off. it was freezing cold and you kept it off to save battery life right?
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>> that's correct. >> and did you find the charging stations the tesla infrastructure adequate because obviously the difference between a 31 hours with the gas and 50 hours with the electric car, the difference was charging right? >> not all, most of it is charging. the reality is if you want to charge an electric car there's two choices tesla super charging network which is pretty quick or nothing. i mean, if you want to drive anywhere at reasonable speeds the tesla super charging network is the only game in town for now , three, four years from now other manufactures will have decent networks but tesla is it. how far were you going per charge? >> i almost don't want to say because i don't want to inspire the next guy to come break that record but i'll say this. 50 hours and 16 minutes is absolutely breakable and part of that is that we did it in winter in the cold affects the batteries negatively. >> obviously, do you want to go back and break this, what is next for you, you've done so much crazy stuff. the canonball run, terry
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bradshaw was in that movie. i love that movie. >> i've got to give credit to daniel z arilla, who owns the car and was my co-driver. the instant we got to new york we passed out and a few hours later we said let's get in the car go back the other direction and break this by two hours. >> do you like the tesla car? >> it was great. i try to go in unbias because you hear a lot of negative things about them it was a terrific car. >> alex thanks for joining us. small business lending in 2017 showed strong consistent growth but what's in-store for 2018? small business administrator linda mcmahon joins us next in a fox business exclusive. to most people, i look like most people. but on the inside, i feel chronic, widespread pain. fibromyalgia may be invisible to others, but my pain is real. fibromyalgia is thought to be caused by overactive nerves.
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i knew at that exact moment ... i'm beating this. my main focus was to find a team of doctors. it's not just picking a surgeon, it's picking the care team and feeling secure in where you are. visit cancercenter.com/breast john: in a partisan world koob b note picks are usually picked with opposition. i can't think of a better person to lead than someone who has been there done, that happy new year welcome linda mcmahon, joining us for a fox business exclusive thank you for joining us. >> john my pleasure. john: on this cold day, 2017, small business administration it over 68 thousand loans, i think
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a lot people know about that, but they don know the work you did after the hurricanes in houston, small business administration goes in with fema, waive all fees and loan money direct low to business, talk about work and what you want to accomplish in houston and puerto rico after the hurricanes. >> you are right, there are so few people who know this part of what sba does. comes in for unit disaster assistant. your goal is to get people and for the only time, it ever makes loans for home mortgages, the home of sba to get people in their homes and businesses, small businesses are the glue for communities.
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to get the economy glowerishes and -- flourishing and growing again. john: it is also glue for the economy and the country as a hole, 99.7% of businesses are considered small businesses. also you're dealing with certain things that make america great. you talk about diversity you deal with veterans, you waive fees for veterans coming back in. you deal with women owned business and minorities, that is a big part, correct? of what you do with the sba ? >> absolutely, one thing to maybe sure we do, not only to help minorities, veterans, and women owned businesses to get access to capital, but other thing we found as much as anything else is mentoring our
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boots to business program for veterans helps them troongsic tn from military to civilian life. a lot of them don't know how to write a business plan or manage cash flow, or take their skills they learned that is part of military and translate them, the mentoring aspect is important. you have to have cash, but almost as important as getting access to tha capital. is nowing how to set up your, all part of the community of helping small businesses start or grow expand, hire more workers and to be part of a very you know high level contributing workforce. john: you talk about men terring -- mentoring, which is so were, small businesses, as you know, everything from the ceo to janitor of the company. >> i know that first hand. john: yes, you do.
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the mentoring itself, you talk about local financial institutions, the small businesses are working so hard, they don't know a lot of what is out there, how do you get word out? do you have somebody that works specifically with the local financial institutions. >> we do, we have 68 district offices in country, in those offices we have lending experts, wwe have, development specialists, we work you know with our local sbdc small business development companies to help provide the mentoring we need. to match our lenders with our customers. we have a lender match on-line, if you click on lender match, you will see what kind of loan do you need to get, and what
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people in the area might be able to fulfill your loan. we work with the community to help guide and direct the budding entrepreneurs or those already in business we have a leaders program, a graduate program that lasts about 4 months, you graduate from that, you really are quite a seasoned business executive in terms of understanding what some of the needs and how to grow expb a leader in your particular business. we have so many programs that sba offers, you can check i it t at sba. gov. we have on-line training and crash throw management. how do you market and promote. john: a big proponent of tax cut package. that will benefit small business. in 2004 we went tonights nyse to
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ring the bell at stock market. i think that tells that selfless gesture how you are as a person, your success tells you are a be person, i am proud of you for being the sbaleader, thank you for coming on the show. >> thank you, john. john: coming up, momentum in market going strong, major averages boast record closes, we'll tell you all about it next. restlessness , it's gas. gas-x relieves pressure,bloating and discomfort in minutes !! so we can all sleep easier tonight. yeah, i got some financialbody guidance a while ago. how'd that go? he kept spelling my name with an 'i' but it's bryan with a 'y.' yeah, since birth. that drives me crazy. yes. it's on all your email. yes. they should know this?
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yeah. the guy was my brother-in-law. that's ridiculous. well, i happen to know some people. do they listen? what? they're amazing listeners. nice. guidance from professionals who take their time to get to know you. ...from godaddy! in fact, 68% of people who have built their... ...website using gocentral, did it in under an hour, and you can too. build a better website - in under an hour. with gocentral from godaddy.
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john: winter storm wreaking havoc, cold temperatures up to 2 feet of snow are expected.
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john: record day on wall street, all posting record closes, as
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fed minute show gop tax plan helped boost fed members confidence in the economy. joining me jonus, cofounder of max funds, and gary smith. gary, with you, there have been 4 major tax cuts in last 100 years, coolidge, kennedy. and lbj, and reagan, and bush. every time, you saw tax revenue go up in to treasury, you saw the economy improvement why is it now people saying that is impossible and will not happen in this climate? >> because they are nuts. a quick side bar. you are doing a fantastic job subbing in for the great charles payne, good on you. second, why are people saying? the mainstream media is saying it. we've discusses bulls and bears, they hope for trump to fail. why? because they are still mad he --
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mad they lost the election. to your point, you ask average person, on the street, i'm going to give you $100 to spend or give it to the government? what do you think abser would be? they will say, i can pend it better than the government, that is what the tax cuts are doing. people right now don't believe in the tax cut, majority they have been spoken to by mainstream media saying it will be horrible. wait until they file their taxes and get more money back in their pocket. this economy is going to take off. john: jonus, are the tax cuts price ed into this market. >> they are, but the investors are not concerned. i think that real question right now how much of the boost from
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tax cuts, what gary said, will be taken away from federal reserve. there is some degree they will capture some of the gains. they might raise rates higher than we could have. if they go overboard, saying because of tax cuts they will eat up most or all of benefits of a tax cut, all we'll get is a rising deficit. you will get it twice. there is a potential danger with a new fed chief coming in, you don't know how they will react. if they don't over react, things should be fine. john: kind of like linus with a security blanket, you both put me in my comfort zone.
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>> thank you. john: from grid iron to golf course, we talk about ways to help many facing social injustices, we're back after the break. it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured
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john: in august 2016, colin kaepernick gained national -- for kneels thering during the nl anthem. >> and that is something that needs to change. that something that you know this country stands for freedom, liberty, justice for all. and it is not happening for all right now. john: so why does it seem like so many folks have lost sight of reason for the protest? to discuss is ex -- executive
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director of cofounder. and deneen. i want to start with you. history proved they were right, players today, seems they lost their message, i think most people would agree this there is too much social injustice in the incarceration rates and education systems in inner-cities. >> unfortunately, the message they are portraying is dividing the country. you mention how colin kaepernick started this, he was promoting propaganda from black lives matter movement that police officers were overwhelmingly killing young black youth, they are ignoring uyoung black males are -- have high crime rates unfortunately. what is the root cause? the root cause are broken
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households, is poor educational system they are trapped in and there are no mentors in the neighborhoods for the families and these individuals, that is where the focus on be, do something about the broken household, failing public schools and not divide the country. john: ferrell evans i visited your program in harlem, you work with stem programs in golf. you are changing the giving the kids an tuneup in harlem playing golf with stem education, can you explain, this is fantastic work. >> thank you for having me. we do as bridge golf foundation we give young men of color we address the injustices and give them opportunities we combine golf and stem, we know that
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science, technology, engineers and mathmatics they are keying, we don't have enough people to work at these companies this a global economy. we're doing is we're giving then an opportunity, making it fun for them, they are getting character education, and stem, golf, and mentoring, we're tutoring. this is a fun program. i think we're handles the social injustices that are addressed by some of the players in nfl in a helpful sustainable way. >> it is a great program. i have great admiration for what you do, you partnered with bob rubin, you take something these young kids are not used to, golf, most have never season's golf course, and stem education, what you has it been -- how has it been received. >> it was great, at first we had a impression that kids were
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drawn by golf, we found that young men enjoyed the stem, hands on learning. and they are learning physics, chemistry, life sciences in a fun, active way. >> university physicists are down there teaching these kids, remarkable, thank you so much. >> blue state tax battle is just heating up, new york governor cuomo announcing he will sue to block the government tax overhaul. on fox business.
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they appear out of nowhere. my secret visitors. hallucinations and delusions. the unknown parts of living with parkinson's. what plots they unfold, but only in my mind. over 50% of people with parkinson's will experience hallucinations or delusions during the course of their disease. if your loved one is experiencing these symptoms,
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>> our poor. at same time, washington is launched a direct attack on new york state's economic future by eliminateingful deduct bill tie of state and local taxes.
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john: governor cuomo announcing new york state will sue federal government over the republican tax hall, caps former deducted for state and local taxes at $10,000, the full deduct has been popular in high-tax states like new york. jessica, can you sue the federal government over a law en acted by congress? >> you can. but legal experts saying they are not clear whether that law the has any legs, as cuomo laid it out by end of month there will be more clarity to what he is arguing. and how he will defend this, you just saw start of andrew cuomo 2020 presidential campaign more than anything. argument that he will make network state residents, and california and new jersey as well will be taxed twice, it is unconstitutional and a violation of states rights and equal
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protect. we'll see details. john: blue states are upset about this. >> i am. john: because you are paying more tax but you think it is unfair. >> i don't necessarily top pay more tax, it seems unfair we have states fully supporting other states, we know that blue states do take care of red states, it has been going on, tax plan has more scwe general problems than this. we should be helping others who are less well off, we'll see if it has legal standing. john: is it deducted not just a subsidy for high tax states? >> it is absolutely a subsidy for the high tax states, cuomo doesn't like it, he has to look in the mirror, say, whyure we ae
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over taxing our people? that is why these blue state democrats, that have way over spent, are up in arms about this. it is to be expected. but here is the deal, for mr. cuomo, who as jessica said, just launched his presidential campaign with this. it is that by most standards most people saying, that even new yorkers will do better with this tax law. so to pretend otherwise is disengenuine, i am afraid he is not going to have his own constituent on his side. >> i think he will. have his own constituent on his side. there are people in red states as well who are upset. not just salt deduction. marmarco rubio says it may have been too much to help corporations, i think he is
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voicing concerns, but he makes a point about income inequality and what it will do to expand income inequality. >> corporations create jobs. >> trickle down, trickle down, give middle class and lower class americans a direct tax cut. >> just because you lose both body in congress, you don't get to judge shopping to create our own legal outcome, they didn't win an elected. the democrats are way down in the fund-raising, they are upset about the tax law. >> i don't know, you should talk about president trump tor -- abt judge shopping. therefore been in a courtroom, the litany of other things his nominees are not prepared to do, so. john: i think we have an ideological difference about taxes. >> but we do like each other.
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>> we do, and are doing a great john. john: five seconds. >> unpopular, trying to override the will of people. >> thank you, charles payne will be back tomorrow, lou dobb saucs next. >> good eve inning happen new year, republicans fighting back against the deep state department of justice, and it is more than about time. lawmakers say they are likely to file conten contempt of congress regular this week against deputy attorney general rod rosenstein and fbi director christopher ray because they failed to produce documents related to discredit the trump dossier, today deadline they set to hand over the documents, so far rod rosenstein and ray have not complied, they did meet with

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